Find out more about Papaya Global Payroll Comparison ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a protected and trustworthy technique of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app simplifies my payroll process, saving me a significant amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Staff member Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax declarations and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive advantages bundles to worldwide workers no matter the number of staff members in the company. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits providers in every nation, create regional accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR incorporate various functions such as monitoring trip time, ensuring compliance, helping with the process of inviting new employees and bidding goodbye to leaving ones, providing a safe and secure online platform for keeping employees' documents, and providing assistance for work allow procedures in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work expenses distributed per area, overall work expenses per cycle and a lot more.
Internationally, I have actually shown management and strategic competence in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for managing payroll methods, as pointed out by Mark. My function involves handling and developing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely uninspiring and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll likewise review a wrap-up and that ought to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and handling them becomes a growing number of intricate International organizations are seeking to discover Solutions and brand-new ways to simplify processes specifically from a payroll and cross-border payment perspective many companies maintain different checking account just for payroll while some have several accounts in different countries does it make sense for companies to keep separate bank accounts in some cases in various nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one country but when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most importantly policies compliance information security and banking rules then there are the large numbers they add further complexity the global Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there's typically an overwhelming variety of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or really very fundamental there's no genuine consistency structure we're living in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of an image they see a lack of visibility also extends to payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of global companies have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is delivered to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they depend on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look right ultimately developing a knowledge base is absolutely important however everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to type of progress with that it likewise as well to add to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely essential that payroll and financing groups work more detailed together than ever um I'm constantly surprised when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more crucial to contribute to type of the level of complexity there's more and more benefits being organ or being used by organizations across the world so once again you're just wanting to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real obstacles or genuine tough type of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would definitely say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to develop additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an effect viewpoint on employees it is definitely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive impact on individuals's wellness and many other elements if individuals aren't paid uh I have actually constantly been impressed coming into this Market type of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's viewed externally too. For that reason, it is essential to ensure that jobs like Wi-Fi International and other crucial matters are done correctly. Using the first Worldwide Payments very first payroll payment solution is a fantastic initial action towards supplying a detailed payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and bank accounts essential for worldwide payroll are key consider accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Eventually, we do not do it for the gratitude.
anyhow we know how how important a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everyone that's involved in those processes and also so imagine sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and type of shot to get back to everybody so moving on appearance why do business choose to main different checking account there are companies out there doing precisely this for particular countries and I have actually worked in a business or numerous businesses doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not producing additional work for any person where we don't have to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I believe individuals have actually got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs changing but eventually people are extremely stuck with what they recognize
with best um modification is a challenging thing all of us don't like change um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping numerous checking account however there's a substantial amount of complexity goes with setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is substantial however I think the honest response is modification um individuals haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to monitor and this method does position several obstacles um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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